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| Provider | Service type | Compensation |
|---|---|---|
SPECTRUM EMPLOYEE BENEFITS2 years Filed as: SPECTRUM EMPLOYEE BENEFITS, INC. Service code 37 · EIN 20-1973276 720 N 5TH ST · BRECKENRIDGE, MN 56520 | Loan Processing | $42,274 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,161 | $106,230-79.1% | $147,080-84.9% | $77,736-71.5% |
| Participation rate | 61.0% | 78.4%-17.3pp | 82.2%-21.1pp | 70.6%-9.5pp |
| Annual return | 63.27% | 56.91%+6.4pp | 420.17%-356.9pp | 31.26%+32.0pp |
| Employer contribution / active EE | $1,211 | $4,072-70.3% | $4,933-75.4% | $2,728-55.6% |
| Participant deferral / active EE | $2,765 | $8,001-65.4% | $8,066-65.7% | $4,651-40.6% |
| Admin fee / account holder | $238 | $338-29.5% | $12,989-98.2% | $433-45.0% |